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FES (Fonds d'épargne salariale)

Employee investment undertakings. An FES (Fonds d’épargne salariale, employee investment undertaking) can be an FCPE (Fonds commun de placement d'entreprise, employee investment fund) or a SICAVAS (société d'investissement à capital variable d'actionnariat salarié, SICAV open-ended investment company for employee shareholders). These funds are exclusively designed for funds from employee savings, subscription is available only to the employees of one or several companies.

(Source: article L214-163 of the French Monetary and Financial Code -


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On 3 April 2018, Natixis Asset Management became Ostrum Asset Management.